Epic Real Estate Investing - Self Directing Your Retirement Account | 335

Episode Date: January 16, 2018

Tax Hacker Tuesday shows the way toward self directing your retirement account. Learn about some good alternative investment strategies for your IRA and level the playing field with the wealthiest 1%. You can dream of a tax system that works for you, or you can learn to hack the tax code on Tax Hacker Tuesday! ______   The free course is new and improved!  To access to the two fastest and easiest strategies to a paycheck in real estate, go to FreeRealEstateInvestingCourse.com or text “FreeCourse” to 55678. What interests you most? • E.ducation • P.roperties • I.ncome • C.oaching Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Did you know that up to 50% of your lifetime income will be wiped out by taxes? What if you could stop this madness? Isn't it about time you play on a level playing field with the wealthiest 1%? Now you can. Tim Berry, attorney at law, shares here each and every week current tactics and strategies that anyone can implement to hack the tax code. Protect your assets and keep what's rightfully yours.

It's time. for Tax Hacker Tuesday. I would like to ask you a question, Tim. I thought you're going to ask them a question. No, I only ask you a question. That was going to be interesting. Yeah, that'd be interesting for them to respond. They can always do it by email.

And we've got some zingers, too. Woo-hoo! You know, my brother used to say, what's the matter for you anyway? So what don't they know about Irish can hurt them? See, they can't answer, but I can ask you that question. What does the public not know about Irish that can hurt them?

You know, there's a whole gamut of things. I don't know if gamut is the right word. There's a whole, there's a plethora of topics that they don't know about IRAs that can hurt them. But let's concentrate on one that's very important, and that's investments within IRAs. Most people think that you have to invest your IRA in a CD and a mutual fund with Wall Street, whatever. But an IRA is nothing more than a trust. and so an IRA can invest in pretty much anything that a trust can invest in. Bernie, what are some good ideas of alternative investments?

How about real estate? Real estate, no problem whatsoever. And stop and think about that. If you do things correctly, you can get massive leverage on real estate, and you can get that massive leverage inside of your retirement plan. And by the way, whenever we're talking about retirement plans, Bernie, what's this apply to? What applies? IRAs and 401Ks.

IRIS and 401Ks. So you can self-direct. You can manage your own investments. Wait a minute. You can control your own. You can control your own destiny and not Wall Street? Yeah, that's a mindblower. Is that most people think they have to hire somebody to manage investments there?

No, you can go out by the real estate inside your IRA. You make the decision. I didn't know that. Yeah, hard money loans. Yes, I did. You did know that? Yeah, I did know that. Yeah, I just, I was playing to the camera.

Okay. So the answer is, do you want to control your own investments? You want Wall Street to control your investments, and there's two ways to do it as that. Interact with your 401K. But, Tim, you've got to explain to the folks out there the difference of why everybody can't have a 401K, and what are the parameters? Well, a 401K is a much better vehicle for most people to use, but you have to have an active business in order to sponsor a 401K.

Those of you who are real estate agents, you can sponsor your own 401K, and almost do insider trading. You can buy the great real estate deals that come across your desk. Insurance agents, they can sponsor a 401k. So you need to have a business sponsor a 401K. And let me flip back to real estate agents real fast. What a great idea, what a great concept to take to your clients about your IRA. Your retirement plan can go out and purchase real estate.

Your IRA, your retirement plan can go make hard money loans, loans for others to buy real estate. what a great opportunity for them and what a great opportunity for you. It's called Checkbook Authority over your own IRA funds. It really is. Without, excuse me, without causing a distribution. Without causing a distribution. See, a lot of people don't understand it. I say, wait a minute, I can take my IRA and I can have checkbook authority over my IRA

and invest in real estate. What a great idea. I mean, real estate agents start calling your people in Minnesota and Nova Scotia and say, let's use your IRAs. to invest in a piece of property in this wonderful, wonderful Coachella Valley. I totally agree, sir. Okay. So the 401 case can be used that way if you have your own business.

Yes. And you can utilize the same thing, investment strategies. Yes. And so what's wrong with this picture? Nothing. I think that's a wrap. You know what it is? It is a wrap. That's it for today, as we dream of a tax system that works just for you. But until then, you have Tim Berry.

See you next Tuesday for another episode of Tax Hacker Tuesday. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.